Written by Arun K( Money Bingos ) https://www.moneybingos.com

Cryptocurrency does not exist in physical form like cash and is typically not issued by a central authority. So, from Bitcoin, Tether, Ethereum, Binance Coin, and Dogecoin, there are thousands of different cryptocurrencies in the market. It is a digital asset that can be traded without being regulated by a bank or government. Nowadays, most youngsters and working professionals see a wide scope and high return in cryptocurrencies and want to invest in them. So, in this article, we are providing the “5 of the best cryptocurrencies to buy immediately in 2023”. Let’s get started.

Let’s see the shocking cryptocurrency statistics as of October 2022.

1. There are over 21,000 cryptocurrencies on in circulation as of October 2022.

2. There are about 37 million American crypto users and 305 million global crypto users as of 2022.

3. By market cap, the top three cryptocurrencies in the world are Bitcoin (BTC), Ethereum (ETH), and Tether USD (USDT).

4. 20% of Americans state that they have used, invested in, or traded in cryptocurrency as of 2022.

 5. Global blockchain market value is expected to reach $68 billion by 2026, with a CAGR of 69%.

So, the cryptocurrency market has grown like a beast, opening up tons of opportunities for investors to secure a wealthy and prosperous future. Especially in the USA, the zeal and interest in digital assets are increasing at a rapid pace. This trend shows no sign of stopping anytime soon and has an enormous future. Therefore, it is very important to know precisely, which are the most fruitful and popular cryptocurrencies in the US if one wants to build a strong portfolio. 

As, young investors to multimillion-dollar brands, everybody is showing high interest in many cryptocurrencies in the US. So, we brought the list of top five investing cryptocurrencies to our investors that have the potential to generate good returns over the long run in USA. 

After the UK, the USA is home to the highest number of digital currency exchanges in the world.

So, here is the question, which cryptocurrencies does America favour?

From big names such as Bitcoin to Ethereum with impressive growth, we’re taking a glimpse at the cryptos which are keeping the North American market moving. That’s why we have created a list of the top five cryptos in the USA in 2022.

To help you get your bearings, these are the top 5 cryptocurrencies based on their market capitalization or the total value of all the coins currently in circulation.

5 of the Best Cryptocurrencies to Buy immediately in 2023:

1. Bitcoin (BTC)
2. Ethereum (ETH)
3. Tether (USDT)
4. Binance Coin (BNB)
5. U.S. Dollar Coin (USDC)

1. Bitcoin (BTC)

• Coin Market cap: $391,707,456,387 Approx. $392 billion

Bitcoin (BTC), the first cryptocurrency, was developed by Satoshi Nakamoto in 2009. BTC operates on a blockchain, which is a ledger that records transactions and is shared across a network of thousands of computers, like the majority other cryptocurrencies. Bitcoin is mostly protected from fraudsters because updates to the distributed ledgers have to be validated by cracking a cryptographic puzzle, a procedure known as work proof. Bitcoin’s price has skyrocketed and fluctuate every second as it’s become a household name. In 2017, you could buy one Bitcoin for about $550. As of November 2022, a single Bitcoin’s price is around $20,400.

2. Ethereum (ETH)

• Coin Market cap: $190,182,667,498 $191 billion

Vitalik Buterin, a well known programmer once came up with the idea for Ethereum in 2013. Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin were also Ethereum’s original founders. Ethereum, which is both a cryptocurrency and a blockchain platform, is a favourite among programmers due to its potential applications, such as so-called “smart contracts” that automatically execute when specific conditions are met and non-fungible tokens (NFTs). Ethereum has also grown significantly. From roughly $11 to about $1,573 between January 2016 and the end of November 2022, its cost changed.

3. Tether (USDT)

• Coin Market cap: $69,416,680,448 Approx. $69 billion

Tether was familiarized in 2014 by Tether Limited Inc. The Hong Kong-based corporation iFinex Inc., which also operates the cryptocurrency exchange Bitfinex, is the holder of Tether Limited. Tether Limited has produced the USDT stablecoin across 10 rules and blockchains as of August 2022. Because Tether Limited kept $1 US in asset reserves for each USDT released, it was initially intended to have a value of $1.00, which is why it is referred to as a stablecoin. Tether (USDT) is a stablecoin, which means that it is backed by fiat currencies like U.S. dollars and the Euro, unlike certain other types of cryptocurrencies. So practically, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favoured by investors who are wary of the extreme volatility of other coins.

4. Binance Coin (BNB)

• Coin Market cap: $51,155,544,783 Approx. $51 billion

Changpeng Zhao, a developer who had previously produced high-frequency trading software, founded the company in 2017. Originally recognized in China, Binance later moved its headquarters there as a result of the country’s escalating guideline of cryptocurrencies. One of the major cryptocurrency exchanges in the world, Binance, receives payments in the form of Binance Coin, a type of cryptocurrency. Trading, processing payments, and even making trip plans can all be done using it. It can also be exchanged for or converted into different cryptocurrencies like Ethereum or Bitcoin.

BNB’s price in 2017 was just $0.10. Its cost had increased to almost $320 by the end of November 2022.

5. U.S. Dollar Coin (USDC)

• Coin Market cap: $42,960,438,545 Approx. $43 billion

USDC was introduced in September 2018 after being first announced by Circle on May 15.

Visa said that it would permit the use of USDC to settle transactions on its payment network on March 29, 2021. As of August 2022, Circle states that there are 55 billion USDC in circulation.

Similar to Tether, USD Coin is a stablecoin that aspires for a $ 1.00 US to 1 USDC ratio and is backed by U.S. dollars. Ethereum powers USDC, and you can use USD Coin to implement cross-border transactions.

USD Coin

In the next article, I will tell you how to buy these cryptocurrencies in USA and achieve your investment goals.

Disclosure

The information mentioned in this article is purely based on our research and thought. As an investor, it must be the responsibility of all individuals to do thorough research because it is a matter of your hard-earned money. Nowadays, many scams happened worldwide in the name of cryptocurrency. So, always do buy crypto from trusted exchanges and brokers. This site is not sponsored by or has any relationship with any kind of exchange and broker, so we insist our users to invest wisely as per their knowledge and risk.

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You should also read “How to invest in Cryptocurrency 2023“: https://moneybingos.com/2022/11/04/how-to-invest-in-cryptocurrency-2023/

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